Regulatory Alerts2024-01-01
Payments-2024-Circular No. 22 Provision of Offline Connectivity Service for E-Wallet Applications
The Palestine Monetary Authority issued Circular No. 22 (Payments-2024) mandating all licensed banks, payment companies, and electronic currency service providers to implement offline connectivity services for e-wallet applications. The directive establishes technical specifications, operational guidelines, and compliance requirements to ensure seamless transaction processing and enhanced user accessibility across licensed payment channels. Financial institutions must align their digital infrastructure with these standards to maintain regulatory compliance and support uninterrupted offline payment functionalities.
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